HP acquires Palm in latest smartphone market developments

Last week it was revealed that Hewlett-Packard, one of the world’s biggest IT companies, has taken on all competition in the sales of mobile devices with its agreement to buy the struggling mobile device manufacturer Palm.

The PDA company has been purchased by HP for around $1.2bn and allows for a new force to enter the smartphone market. Palm had been destined for bankruptcy by the end of the year as it was running out of time to raise the cash necessary to keep going. This move by HP means that it has now acquired a new mobile device strategy and can further develop the Palm WebOS software with new devices on the horizon.

This is certainly an exciting new development as HP has the funds available to launch an array of products using the technology and build on the foothold of Palm in the mobile industry.

Owners of the popular Palm Pre and Pixi phones which run on the WebOS software will be pleased as developers will be able to continue with the creation of new applications as well as support for existing ones.

We will just have to wait and see how this new acquisition affects the PDA and smartphone markets, but the added competition can only be good for businesses and individuals looking to get the best mobile solutions.